Independent Advisor Alliance Sells 6,026 Shares of Illinois Tool Works Inc. $ITW

Key Points

• Independent Advisor Alliance cut its Illinois Tool Works stake by 32.5% in the fourth quarter, selling 6,026 shares and leaving it with 12,544 shares worth about $3.09 million.
• Illinois Tool Works reported better-than-expected quarterly results, posting EPS of $2.66 versus the $2.57 estimate and revenue of $4.02 billion, with revenue up 4.6% year over year.
• The company also announced a quarterly dividend of $1.61 per share, payable July 10, implying an annualized dividend of $6.44 and a yield of 2.6%.

Independent Advisor Alliance trimmed its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 32.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,544 shares of the industrial products company's stock after selling 6,026 shares during the quarter. Independent Advisor Alliance's holdings in Illinois Tool Works were worth $3,090,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ITW. Meridian Wealth Management LLC grew its stake in Illinois Tool Works by 1.3% during the fourth quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company's stock valued at $694,000 after acquiring an additional 37 shares in the last quarter. Mayflower Financial Advisors LLC grew its stake in Illinois Tool Works by 3.8% during the fourth quarter. Mayflower Financial Advisors LLC now owns 1,065 shares of the industrial products company's stock valued at $262,000 after acquiring an additional 39 shares in the last quarter. Revisor Wealth Management LLC increased its holdings in shares of Illinois Tool Works by 1.4% in the fourth quarter. Revisor Wealth Management LLC now owns 2,841 shares of the industrial products company's stock worth $734,000 after purchasing an additional 39 shares during the last quarter. Concord Asset Management LLC VA increased its holdings in shares of Illinois Tool Works by 1.1% in the fourth quarter. Concord Asset Management LLC VA now owns 3,591 shares of the industrial products company's stock worth $884,000 after purchasing an additional 39 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Illinois Tool Works by 1.3% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 3,015 shares of the industrial products company's stock worth $743,000 after purchasing an additional 40 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ITW has been the topic of several research reports. UBS Group reaffirmed a "neutral" rating and issued a $285.00 target price on shares of Illinois Tool Works in a report on Wednesday, February 4th. Wells Fargo & Company upped their price objective on Illinois Tool Works from $245.00 to $255.00 and gave the stock an "underweight" rating in a report on Monday, May 4th. Citigroup upped their price objective on Illinois Tool Works from $284.00 to $287.00 and gave the stock a "neutral" rating in a report on Monday, May 4th. Robert W. Baird set a $278.00 price objective on Illinois Tool Works in a report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. decreased their price objective on Illinois Tool Works from $303.00 to $295.00 and set an "overweight" rating on the stock in a report on Friday, May 1st. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, Illinois Tool Works has an average rating of "Reduce" and an average price target of $271.92.

Illinois Tool Works Trading Down 0.5%

ITW opened at $250.13 on Thursday. The firm has a market cap of $71.96 billion, a P/E ratio of 23.22, a P/E/G ratio of 4.32 and a beta of 1.04. Illinois Tool Works Inc. has a 12 month low of $238.82 and a 12 month high of $303.15. The company has a current ratio of 1.19, a quick ratio of 0.86 and a debt-to-equity ratio of 2.04. The stock has a 50-day moving average of $265.67 and a 200 day moving average of $261.98.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.66 EPS for the quarter, topping the consensus estimate of $2.57 by $0.09. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.The firm's revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business posted $2.38 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. As a group, research analysts forecast that Illinois Tool Works Inc. will post 11.36 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be given a dividend of $1.61 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. Illinois Tool Works's payout ratio is currently 59.80%.

About Illinois Tool Works

Illinois Tool Works Inc (ITW) is a diversified industrial manufacturer that designs and produces a broad array of engineered products, consumables and related service solutions for industrial customers. Its offerings span engineered fastening systems, specialty components, industrial equipment, welding products, foodservice and packaging equipment, adhesives and polymer products, and test-and-measurement technologies. These products are used as critical inputs by customers across automotive, construction, electronics, foodservice, maintenance and other industrial end markets.

The company operates a decentralized business model in which independently managed businesses focus on niche product lines and close customer relationships.

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